Alkane Resources Ltd (ASX:ALK) Announces Significant Gold Intercepts
Alkane Resources Limited (ASX: ALK) has announced significant gold intercepts during recent drilling at the San Antonio deposit, part of its Tomingley Gold Operations in Central New South Wales. The findings indicate a steep plunge toward potentially mineable underground mineralisation, with notable results such as 3 metres at 1.79g/t Au from 273 metres and 1 metre at 2.78g/t Au from 334 metres.
Significant Drilling Results
Drill hole SAR003D yielded impressive results, including 2 metres grading 5.03g/t Au from 416 metres. Similarly, SAR004D presented findings of 6 metres at 1.37g/t Au from 711 metres. The San Antonio gold resource features over 1 kilometre of continuous strike length and remains largely undrilled at depth, prompting further exploration plans.
Future Exploration Plans
Alkane Resources plans additional drilling to explore down-dip of several high-grade domains located within favourable geological formations like andesites and monzodiorites. This will likely be part of the ongoing regional exploration, which resumed in December 2024, and includes a comprehensive 17,000-metre aircore drilling program based on recent drone magnetic surveys. A further 3,200 metres of RC and diamond core drilling will target El Paso, Tomingley Two, and new exploration targets.
Management Insights
Managing Director Nic Earner expressed optimism about the exploration results, stating, “The broader Tomingley region has many occurrences of gold mineralisation. As well as potential mine extensions of our existing undergrounds, we are doing early-stage work on identifying new mining areas.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.